California § 12105 - If the insurer has not transacted ocean marine insurance in this State in each of
Full text of California Public Contract Code - PCC § 12105 — If the insurer has not transacted ocean marine insurance in this State in each of, with citation guidance and answers to common questions.
§ 12105. If the insurer has not transacted ocean marine insurance in this State in each of
If the insurer has not transacted ocean marine insurance in this State in each of the three calendar years immediately preceding the year in which a tax return is required to be filed, its tax shall be computed on the basis of its premiums and underwriting profits in the last completed calendar year. As soon as the insurer comes within the terms of Section 12104, the taxes computed under the provisions of this section for the two preceding calendar years shall be adjusted to equal the amount of the first tax computed under Section 12104. The adjustment shall be shown as an addition to, or a credit against, the tax computed upon business done in the third calendar year or as soon thereafter as possible.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 12105
What does Public Contract Code - PCC § 12105 cover?
Section 12105 ("If the insurer has not transacted ocean marine insurance in this State in each of") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 12105?
A common citation format is "Public Contract Code - PCC § 12105" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 12105 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.